Thursday, March 22, 2018

China Sunsine: Saw some profit taking as mentioned but still good to go? Price 1.45. System?


Following up from call previous blog post about 2 weeks back >> http://singaporetradinginsights.blogspot.sg/2018/03/china-sunsine-breaking-higher-after.html


We have indeed seen China Sunsine traded higher to our target at 1.50 and then there were some profit taking...


We started to see a slight retracement which is normal given the run we had experience since the beginning of the year...


Fast forward to today, we have been holding above the 1.40 level quite well over the past 1 week which may be a good support base for any upside to continue...


Awaiting more specific price actions to take the upside further above 1.50...


See where we are now.





Looking at the PTI SYSTEM, we actually had a BULLISH EXIT signal a few days back...


An EXIT from the entry signal which we got on the 13 FEB 2018... (See below)


Quite a good run we have seen since the bullish signal, looking at more than 15% gain in 5 weeks...


So the question now is: Can there be more upside from here?


Yes, it may be possible. If we see something above 1.50, and there may even be a new bullish signal..


We shall see over the coming days or weeks....


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